(October 19 – 17:30 ET) – StrategicNova has renamed the Navigator SAMI Fund to the StrategicNova SAMI Fund. The fund was created in July 1999 for the growing number of Canadian investors who did not have a religiously compliant investment product available to them.

The fund does not invest in the tobacco, weapons and defense, alcohol-related consumer products, pork- related products and businesses, entertainment (e.g., casinos) and usury and interest-generating sectors.

The fund is managed by Asif Khan, vice president, StrategicNova. Khan brings in-depth understanding of the religious aspects of the fund, and also coordinates the roles of the religious/ethical advisor of the fund manager.

The StrategicNova SAMI Fund accesses Canadian data extracted from the Dow Jones Islamic Market Index, which tracks shariah ;aw-compliant stocks from around the world,

Rushdi Siddiqui, director of the Dow Jones Islamic Market Index, is in Toronto with Khan to review the fund. “Dow Jones has augmented its worldwide leadership in indices and financial measurement by developing its series of Islamic market indices. Importantly, this allows organizations around the world, such as StrategicNova here in Canada, to then offer quite specialized products that fill a need in the marketplace”, Siddiqui said.
-IE Staff